The Rise of Neo Crypto: What You Need to Know Before Investing

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Written By Godfrey

 

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NEO is the proprietary cryptocurrency of the NEO Network, a blockchain platform that allows users to create decentralized applications. These so-called “DApps” are programs that run on many computers. The network aims to spread blockchain technology by exchanging digital assets.

Today, many people want to invest in new and promising currencies. That’s why neo coin is considered one of the currencies that can be considered investment options for Neo. But before investing, you need to think through every step. It would help if you understood that investing in Neo can come with risks. Below in this article, we will explain in detail the peculiarities of investing in Neo.

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Innovative blockchain neo-cryptocurrency

It is primarily a non-profit and community-based blockchain project based in Shanghai, China that is developing a decentralized network that manages and can administer digital assets and identities.

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Neo was developed with the goal of implementing the “Smart Economy” and “Shaping the Future Together. The smallest unit is Neo. A total of 100 million Neo tokens have been issued.

Neo is an iteration of Ethereum smart contracts. It uses a proprietary blockchain algorithm that is designed to optimize Ethereum’s peer-to-peer model. This is why Neo crypto is also called the Chinese Ethereum.

For this purpose, the organization uses so-called smart contracts. Participants can then register, trade, or store different types of assets on the blockchain.

The display is decentralized for each participant in the system. In this way, one wants to achieve transparency on the one hand and transaction reliability on the other.

A decentralized system no longer requires external intermediaries such as banks or clearing houses, which is another advantage that reduces costs overall.

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Neo can perform about 1,000 transactions per second, significantly more than Ethereum. A new block is added every 15 seconds. In the future, however, they want to optimize the system to more than 10,000 transactions per second.

Neo Coin Investment Strategy

How to buy and sell Neo? Since NEO is based on Ethereum, let’s look at the similarities and differences between cryptocurrencies. NEO has an independent NEO token used as a network currency. With Ethereum, on the other hand, the token is identical online and for trading. If traders want to buy NEO, the right timing is required. At best, the price of NEO should be as low as possible so that buying NEO is as cheap as possible. It is managed through the NEO Coin wallet. Information about the NEO rate as well as the NEO token, can easily be found on NEO Coinmarketcap. Should we invest in Neo?

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  • Anyone who believes in the future of cryptocurrencies, especially from a technical perspective, and who, as an investor, expects further price growth in the crypto market should take a look at NEO. The NEO coin should not be absent from any crypto portfolio because of its promising platform.
  • If you want to buy NEO, keep in mind that the success of cryptocurrency investments is difficult to predict, especially in the long term. You should invest in cryptocurrencies only if you are aware of the risks and are not afraid of sudden losses.
  • However, if you know exactly what you are getting into, including all the risks and opportunities, we recommend the following: if you buy NEO and then want to invest in the long term, you should buy the NEO coin. Directly in physical form, and keep it in your wallet.
  • When you buy NEO, you get a return in the form of so-called GAS if you save the coins in the official NEO wallet. According to various crypto forums, this annual return corresponds to about ten percent of the value of NEO coins in the wallet. Thus, if you invested 1000 euros in NEO, you will get a GAS of 100 euros every year.

GAS is another generation of NEO coins that are generated whenever a new block is added to the blockchain. GAS is used as a transaction fee for NEO payments and service fees on the NEO network. But you can also buy GAS on cryptocurrency exchanges.

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Factors Affecting Neo Crypto Prices

You will not find NEO forecasts that are 100% accurate. This is impossible because the world is changing daily, and the price is not static but depends on many factors. Therefore, you should be aware of events affecting the price direction to adjust NEO-Coin forecasts for the current market analysis. The value of the coin is influenced by the following:

  • You can look at Bitcoin’s price behavior as a leading crypto-asset to follow the general trend. When medium- and long-term trends are bullish, the NEO price will likely rise, and vice versa.
  • Although China is one of the most progressive countries, its crypto-regulation is strict and affects the development of Chinese crypto-assets and the overall market trend. As a result, we recommend keeping an eye on cryptocurrency news that highlights regulatory issues.
  • As mentioned, the project team is committed to the constant progress of the NEO network. Its development attracts the attention of traders, large investors, and other companies. This leads to more agreements and further growth of the blockchain.

If we compare NEO/USD and BTC/USD price behavior, we see that NEO price repeats the primary trend represented by the BTC/USD pair. Not surprisingly, cryptocurrencies usually follow the direction of BTC/USD.

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Cryptocurrencies have come a long way since the advent of Bitcoin in 2009. Thousands of new tokens now want to serve a wide variety of niches. NEO has attracted the interest of investors as they seek to improve the fundamentals created by Ethereum.

The cryptocurrency, developed in China, aims to create more efficient smart contracts and is well-positioned to dominate the Asian market. NEO has partnered with Chinese certification bodies to develop smart contracts 2.0.

The easiest way for a private investor to invest in NEO is and remains through a stock exchange. However, when choosing a business, you should work hard to avoid encountering questionable or insecure providers. There have been numerous examples where stock exchange operators disappeared with their clients’ money or hacked into the stock exchange due to insufficient security measures. So choose and invest only in trusted platforms. For example, you can try to invest in WhiteBit. This is one of the most reliable and popular platforms among traders.

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